Lisbon foreign property investment was up by 10 per cent during the first half of 2019.
Foreign property investment in the Portuguese capital’s Urban Rehabilitation Area (ARU*) grew to €343.9 million compared to the €311.8 million recorded in the first half of 2018, although there was a decrease of another 10 per cent compared to the second half of 2018, when €382.5 million was spent.
Foreign property investment in Lisbon was led by overseas property investors of 70 nationalities, involving countries from around the world. France (21 per cent of international investment), China (14 per cent), Brazil (8 per cent), the United States (5 per cent) and the United Kingdom (5 per cent) were the most dynamic international home buying markets, although eight others already have investment volume over 3 per cent, namely, South Africa, Turkey, India, Italy, Germany, Sweden, Vietnam and Belgium.
In geographical terms, the parishes of Misericórdia and Santa Maria Maior are the main destinations for foreign property investment, with investments of €55.5 million and €54.9, respectively, and a similar 16 per cent share. Also worth mentioning is Santo António with a 12 per cent share and €42.8 million invested and Arroios with an 11 per cent share of €38.3 million.
In these four parishes, foreign property investment has a strong representation, and in Santa Maria Maior, foreigners are even responsible for 80 per cent of all housing investment in the semester, while in the parish of Misericórdia it is 54 per cent. In Santo António and Arroios it amounts to, respectively, 48 per cent and 47 per cent.
However, there is a growing interest from foreigners in other areas of the city, with the parishes of Ajuda, Benfica, Carnide, Campolide and Areeiro registering the strongest growth in foreign property investment over the same period of 2018 (between 70 per cent and 165 per cent), even though they maintain total investment quotas below 2 per cent. In this set of parishes, foreigners represent a maximum of 25 per cent of all the volume invested in their parish, reaching a minimum of 6 per cent in Benfica.